Grove (GROV) CLO Gary Giesler Exercises RSUs; Shares Withheld

What Happened
Gary Scott Giesler, Grove Collaborative’s Chief Legal Officer and Secretary, had multiple restricted stock units (RSUs) convert to common shares on August 15, 2026. A total of 44,274 RSUs vested/converted (listed as derivative exercises, code M). To satisfy tax withholding (code F) the company retained 15,844 shares at $1.03 per share (total ≈ $16,320), leaving a net delivery of 28,430 shares to Giesler. These transactions were not open‑market sales but routine RSU settlement and tax withholding.

Key Details

• Transaction date: August 15, 2026; Form 4 filed August 18, 2026 (reporting the Aug 15 vesting).
• Derivative conversions (M): 19,160 + 2,500 + 6,954 + 4,166 + 11,494 = 44,274 shares converted.
• Tax withholding (F): 6,856 + 895 + 2,489 + 1,491 + 4,113 = 15,844 shares withheld at $1.03 each = ~$16,320.
• Net shares delivered to insider: 44,274 − 15,844 = 28,430 shares.
• Footnotes of note: F1 = each RSU converts to one share; F2 = company withheld shares to meet tax obligations (not in excess of liability); F4 = RSUs have no expiration; F3–F8 describe various installment/quarterly vesting schedules for the awards.
• Transaction codes: M = exercise/conversion of derivative (RSU vesting); F = payment of tax liability via share retention.
• The filing shows the transactions and withholding; it does not disclose total shares beneficially owned after these transactions in the excerpt provided.

Context

• This was a routine RSU settlement with share withholding for taxes (common for executives). It is not an open‑market sale and therefore should not be read as a directional trade signal.
• For retail investors: purchases or open‑market buys are generally more informative about insider sentiment than routine vesting/withholding events like this one.